evidence of loan agreement between friends

benb76

I lent a former friend some money about 18 months ago to help get her out of a financial pickle and enable her to pay off a high interest loan and credit cards. She had been paying me back on a monthly basis and has so far paid back just over half the original sum.

Unfortunately, she has decided that she no longer wants to repay me so I have issued a money claim on her, however she has disputed the whole amount I've claimed, so this will go to a hearing. The whole episode is unfortunate, and the action of my former friend is really out of character, I considered her as trustworthy and honest there's still a part of me that hopes she'll see sense and start repaying.

Could anyone advise me what my chances are of winning my claim? The only agreement of the loan was verbal, however the money I lent her was via an electronic bank payment so I have a record of this. Also, all of her repayments have been via bank transfer so I have bank statements showing monthly payments from her. In addition I have sent emails each month of receipt of her money letting her know how much she now owes etc., and she has acknowledged these emails by replying.

Anyone got any advice or experience about my chances? I'd rather not go to court, and have even thought about writing off the debt.

tanith

Before taking to court I would make sure she understands all the proof you have of the amount borrowed, paid back and still owing . I am not an expert but would think if you go to court you have a good chance of winning... also she may be awarded the costs of the court case against her , another reason to pay up I would think.. what a shame its spoiled your friendship , maybe someone else is putting pressure on her not to pay... who knows her reasons....

Debt_Free_Chick

If you do go to Court, I think you stand a reasonable chance .... but it would have been far better to have had an agreement.

Firstly, you can prove that you sent money to her account. She might claim it was a gift, but then you have evidence of the repayments. Presumably, you simply divided the total amount lent by x months? If so, make sure you state this to the Court so there is a direct connection between the monthly repayments and the amount loaned.

I wouldn't be certain you would win - but would be "quietly confident".